Nuvation Bio Inc. (NYSE:NUVB) Insider Dongfang Liu Sells 20,000 Shares of Stock

Nuvation Bio Inc. (NYSE:NUVB) insider Dongfang Liu sold 20,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $2.50, for a total value of $50,000.00. Following the completion of the transaction, the insider now owns 12,000 shares in the company, valued at $30,000. This trade represents a 62.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nuvation Bio Stock Down 12.4 %

Shares of NYSE NUVB opened at $2.09 on Wednesday. Nuvation Bio Inc. has a 12 month low of $1.54 and a 12 month high of $3.97. The company has a market cap of $706.15 million, a P/E ratio of -0.96 and a beta of 1.42. The business’s 50 day moving average is $1.97 and its two-hundred day moving average is $2.36.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. HC Wainwright dropped their price objective on Nuvation Bio from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Citigroup began coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They set an “outperform” rating on the stock. JMP Securities assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a “market outperform” rating and a $6.00 price objective for the company. Citizens Jmp assumed coverage on Nuvation Bio in a report on Wednesday, April 23rd. They set a “mkt outperform” rating and a $6.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Thursday, March 27th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $7.83.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Palumbo Wealth Management LLC lifted its stake in shares of Nuvation Bio by 67.8% in the first quarter. Palumbo Wealth Management LLC now owns 109,643 shares of the company’s stock valued at $193,000 after buying an additional 44,283 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Nuvation Bio by 11.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 60,951 shares of the company’s stock worth $107,000 after acquiring an additional 6,403 shares during the period. Firethorn Wealth Partners LLC acquired a new stake in shares of Nuvation Bio during the 1st quarter worth approximately $35,000. Wellington Management Group LLP increased its position in shares of Nuvation Bio by 8.3% during the fourth quarter. Wellington Management Group LLP now owns 676,024 shares of the company’s stock valued at $1,798,000 after purchasing an additional 52,051 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Nuvation Bio by 40.1% in the fourth quarter. California State Teachers Retirement System now owns 200,380 shares of the company’s stock valued at $533,000 after purchasing an additional 57,310 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors and hedge funds.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.